Now, Paytm Wallet Accepted Even at Petrol Pumps! #OfflinePush

Digital Payments are changing the way we transact on daily basis – mobile wallets, Paytm in particular, are leading this charge. Now Paytm wallets will be accepted even at Petrol pumps!

Earlier today, Vijay Shekhar Sharma, Founder and CEO of Paytm announced on his Facebook time line, that going forward, customers can pay for fuel using Paytm at Indian Oil Petrol Pumps.

While not too many details are out as yet, it seems that currently mobile wallet payments are accepted at select retail outlets in Delhi. However, this seems to be the start and slowly Paytm will start getting accepted at other Indian Oil outlets as well.

We have said this earlier, very soon we may see mobile wallets replacing your physical wallets, and this is a prime example of how fast that scenario is coming to reality!

Paytm claims to have over 120 million registered users and more than 2.5 million transactions daily, on average. Now, with acceptance of Paytm wallet at Petrol pumps, the number of transactions are expected to grow at much faster pace.

Offline payments market is huge – cashless or digital transactions account for a very small fraction currently. However, this scenario is changing quite fast

Recent Announcements by Paytm

Financial Services Entry: Customers of Manappuram Finance And Muthoot Fincorp can now repay their loans using Paytm app. After receiving RBI approval to become a payment bank, Paytm launched their financial services business.

Virtual Pre-paid Cards: Last week, Paytm announced launch of Virtual prepaid cards for consumers in partnership with ICICI Bank. With this virtual card, consumers will be able to pay at wide variety of establishments from the balance they have in their Paytm wallet.